Symbotic Shares Close To Hit 52-Week Low as Financial Errors Cloud Growth Outlook

GuruFocus.com12-04

Dropping close to its 52-week low of $17.11, an AI-powered warehouse automation business Symbotic Inc. (NASDAQ:SYM) has dropped over 10% in the past month and more than 50% year-to-date. Following the...

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(NASDAQ:SYM) has dropped over 10% in the past month and more than 50% year-to-date. Following the...</p>\n\n<a href=\"https://finance.yahoo.com/news/symbotic-shares-close-hit-52-170242409.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4161","symbol_name":"工业机械","start_time":0,"source_url":"https://finance.yahoo.com/news/symbotic-shares-close-hit-52-170242409.html","article_id":"2488925261","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/lSFxLwlm3gcWxmLHtsD7mA--~B/aD0xNjcyO3c9MjUwODthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/us.finance.gurufocus/33b678ffe9fe7d4309de50dc4cb3421d"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2488925261","pubTimestamp":1733245362,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Dropping close to its 52-week low of $17.11, an AI-powered warehouse automation business Symbotic Inc.  has dropped over 10% in the past month and more than 50% year-to-date. Following the revelation of income recognition mistakes and the delay in the annual report filing, the dramatic fall includes a 40% decrease on November 27. The company said that during the fiscal year ending September 28, income and expenses connected to project milestones were prematurely recorded. Further affecting results in the second, third, and fourth quarters were additional mistakes linked to non-billable cost overruns. Symbotic forecasts these problems might lower adjusted EBITDA by $30 million to $40 million, gross profit, and full-year system revenue.GuruFocus has detected 5 Warning Signs with SYM.The company responded by cutting its first-quarter revenue estimate from the previous projection of $495 million-$515 million to $480 million +/-. Investor sentiment has turned sour as Symbotic attempts to ev","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4161":"工业机械","BK4585":"ETF&股票定投概念","BK4588":"碎股","SYM":"Symbotic Inc."},"translate_title":"由于财务错误影响增长前景，Symbotic股价接近52周低点","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SYM":0.9},"content_text":"Dropping close to its 52-week low of $17.11, an AI-powered warehouse automation business Symbotic Inc. (NASDAQ:SYM) has dropped over 10% in the past month and more than 50% year-to-date. Following the revelation of income recognition mistakes and the delay in the annual report filing, the dramatic fall includes a 40% decrease on November 27. The company said that during the fiscal year ending September 28, income and expenses connected to project milestones were prematurely recorded. Further affecting results in the second, third, and fourth quarters were additional mistakes linked to non-billable cost overruns. Symbotic forecasts these problems might lower adjusted EBITDA by $30 million to $40 million, gross profit, and full-year system revenue. \n\nWarning! GuruFocus has detected 5 Warning Signs with SYM.\n List of 52-Week Lows\n List of 3-Year Lows\n List of 5-Year Lows\n\n\nThe company responded by cutting its first-quarter revenue estimate from the previous projection of $495 million-$515 million to $480 million +/-. Investor sentiment has turned sour as Symbotic attempts to evaluate the financial impact and tighten internal controls, therefore casting questions about company governance and long-term viability. 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